Rallis India delivers 176% growth in net profits
After a weak Q2FY20 with negative net profit growth, Rallis India saw some recovery in its third quarter, helped by better than expected farmer response and recovery in demand from Q2. The company saw a consolidated 176.5% growth YoY in its net profit at 38 crore, and a 27.9% growth in revenue at Rs. 543.7 crore. Q2 had seen negative net profit change YoY for the company. MD Sanjiv Lall said that growth in the business "was supported by positive farmer sentiment, new product launches and refreshed trade policies." A better than expected planting season has helped demand. Rallis said that the domestic business was especially bullish and had expanded by 35% while international was up by 24%. The company has been ramping up capacity at its Dahej plant and investing in a new R&D; centre in Bangalore. See all live Result Screeners.16-01-2020